Manning & Napier Group LLC Has $6.53 Million Stock Holdings in Baxter International Inc. (NYSE:BAX)

Manning & Napier Group LLC lowered its stake in shares of Baxter International Inc. (NYSE:BAX - Free Report) by 13.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 169,008 shares of the medical instruments supplier's stock after selling 26,996 shares during the period. Manning & Napier Group LLC's holdings in Baxter International were worth $6,534,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Headinvest LLC purchased a new position in shares of Baxter International during the 3rd quarter worth approximately $25,000. Indiana Trust & Investment Management CO purchased a new position in shares of Baxter International during the 3rd quarter worth approximately $27,000. Bruce G. Allen Investments LLC purchased a new position in shares of Baxter International during the 4th quarter worth approximately $36,000. BKM Wealth Management LLC purchased a new position in shares of Baxter International during the 4th quarter worth approximately $44,000. Finally, Farther Finance Advisors LLC boosted its position in shares of Baxter International by 28.5% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,185 shares of the medical instruments supplier's stock worth $54,000 after purchasing an additional 263 shares during the period. Hedge funds and other institutional investors own 90.19% of the company's stock.

Baxter International Stock Up 0.1 %

Shares of BAX traded up $0.05 during midday trading on Friday, reaching $42.74. The stock had a trading volume of 3,951,652 shares, compared to its average volume of 3,805,363. Baxter International Inc. has a 1-year low of $31.01 and a 1-year high of $50.21. The company's fifty day simple moving average is $41.05 and its two-hundred day simple moving average is $38.06. The company has a market cap of $21.70 billion, a price-to-earnings ratio of 8.19, a PEG ratio of 2.30 and a beta of 0.62. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.48 and a quick ratio of 1.04.

Baxter International (NYSE:BAX - Get Free Report) last announced its quarterly earnings data on Thursday, February 8th. The medical instruments supplier reported $0.88 earnings per share for the quarter, beating analysts' consensus estimates of $0.86 by $0.02. Baxter International had a net margin of 17.77% and a return on equity of 19.49%. The business had revenue of $3.89 billion for the quarter, compared to analyst estimates of $3.81 billion. During the same period last year, the business earned $0.88 EPS. The company's revenue was up 3.5% on a year-over-year basis. Equities research analysts expect that Baxter International Inc. will post 2.89 earnings per share for the current year.

Baxter International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Friday, March 1st will be paid a dividend of $0.29 per share. The ex-dividend date of this dividend is Thursday, February 29th. This represents a $1.16 annualized dividend and a yield of 2.71%. Baxter International's dividend payout ratio is currently 22.22%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. increased their price objective on shares of Baxter International from $38.00 to $44.00 and gave the stock a "neutral" rating in a research report on Friday, February 9th. UBS Group decreased their price target on shares of Baxter International from $40.00 to $36.00 and set a "neutral" rating for the company in a research report on Tuesday, February 6th. Barclays raised their price target on shares of Baxter International from $52.00 to $54.00 and gave the company an "overweight" rating in a research report on Monday, February 12th. StockNews.com raised shares of Baxter International from a "hold" rating to a "buy" rating in a research report on Friday, January 19th. Finally, Morgan Stanley decreased their price target on shares of Baxter International from $45.00 to $39.00 and set an "equal weight" rating for the company in a research report on Monday, December 4th. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $46.18.

Baxter International Profile

Baxter International Inc, through its subsidiaries, develops and provides a portfolio of healthcare products worldwide. The company operates through four segments: Medical Products and Therapies, Healthcare Systems and Technologies, Pharmaceuticals, and Kidney Care. The company offers sterile intravenous (IV) solutions; infusion systems and devices; parenteral nutrition therapies; generic injectable pharmaceuticals; surgical hemostat and sealant products, advanced surgical equipment; smart bed systems; patient monitoring and diagnostic technologies; and respiratory health devices, as well as advanced equipment for the surgical space, including surgical video technologies, precision positioning devices, and other accessories.